The Financial Services Authority (FSA) has launched a public awareness campaign addressing financial fraud linked to entities and platforms offering investment services in securities.

It was held under the slogan ‘Make Sure the Entity is Authorised,’ aiming to raise awareness of fraudulent practices that individuals and businesses may encounter through unlicensed trading platforms, while shedding light on preventive measures against phishing via digital channels and suspicious communications. It also focuses on educating the public on preventive measures and reporting mechanisms for incidents or attempted fraud to ensure swift action by the relevant authorities. Low pressure to affect Oman from Thursday https://www.omanobserver.om/article/1187451

The FSA affirmed that the campaign sheds light on the importance of dealing with authorised entities approved by the relevant authorities, and distinguishing between legitimate investment opportunities and misleading offers. It also includes awareness materials urging the public to exercise caution towards promoted offers and verify their credibility via the official website of the Financial Services Authority or the Muscat Stock Exchange, where the list of authorised companies is regularly updated.

It also emphasised that the Sultanate of Oman has a well-regulated market for securities-related activities, supported by authorised firms operating in the sector. These firms provide a range of services, including brokerage, portfolio management, and investment advice, among other services, for individuals and institutions, thereby enhancing investor confidence and encouraging safe investment.

The FSA calls on all individuals to avoid being misled by unauthorised promotional offers and to rely solely on official sources to verify any investment opportunities or financial transactions.

It has also launched the Investor Protection Portal on its official website as a knowledge platform aimed at enhancing transparency and protecting stakeholders, as part of its efforts to provide a safe environment across the sectors it supervises.

The portal enables investors to make informed decisions that help protect their rights by shedding light on the authorised entities that can be dealt with confidently and warning against unauthorised entities that promote themselves as platforms offering services related to securities, insurance, and other sectors without proper authorisation.

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